Blyth Summary

The panic of 1907 and the Great Recession of 2007-2009 has both been major economic events in the United States economic history. This paper compares and contrasts these two major events and enables us to understand importance of certain financial institutions and regulations during troubled times in the financial sector. In this paper, both panics of 1907 and 2007 are historically analyzed and compared.

Looking for a bit of history while in town? Just north on Broadway is housed some of the most intricate items from Blythe’s past.

Target plans to spend $20 million to expand its bathroom facilities months after it announced transgender restroom policy.

Local churches around Blythe came together under Palo Verde College Performing Arts Center’s roof, to lift up holy hands, sing to the Lord a new song and worship as a interdenominational congregation.

A Colossal Failure of Common Sense was one of many books to be published in the aftermath of the Financial Crisis of 2007. After seeing the global economy stall in the face of massive losses in word financial markets, many Americans sought to better understand the crisis and its causes. This book, written from the perspective of a financial market insider, provides a glimpse into the world of global finance and also seeks to explain how the players in this world were involved in the crisis. In the words of the author Lawrence McDonald, “My objective in writing A Colossal Failure of Common Sense was twofold. First, to provide … a close-up, inside view of how markets really work…..And, second, to give… as crystal clear an explanation as possible about the real reasons why the legendary Lehman Brothers met with such a swift end”1. By writing about his personal experience at Lehman Brothers and recounting stories from within the famous investment banking firm, Mr. McDonald largely succeeds at his first goal. However, the elements of personal biography and the chronological order of the book make it difficult for the reader to fully appreciate all of the varied causes of the financial crash. I believe that the main value of reading this book is in understanding these causes, with Lehman Brothers acting as a microcosm of the greater financial universe. As such, in this review I have isolated elements from Mr. McDonald’s book which highlight how the crisis

One of the primary factors that can be attributed as to have led the recent financial crisis is the financial deregulation allowing financial institutions a lot of freedom in the way they operated. The manifestation of this was seen in the form of:

Brasher, “constructed a narrative based on military records and correspondence, soldier and civilian diaries, letters, and memoirs, political speeches, the WPA (Works Progress Administration) slave interviews, material from Lincoln’s cabinet members, abolitionist publications, and various other barometers of northern public opinion.” (pg 5) Brasher writes using information that he found in personal memoirs of participants in the campaign, both white and black. Brasher brings together military, social, and political history to analyze the agency of Virginia blacks in the Peninsula campaign and emancipation. The author found a side of the campaign that few historians have considered, much less explored the role of African Americans’ in shaping

William Faulkner’s novel, As I Lay Dying, tells the story of a family that journeys cross-country with the intentions to find a proper resting place for their mother, Addie Bundren. After reading for only a short time, it becomes clear that two of her sons, Jewel and Darl, play a much larger role in the story than the other siblings. One could find many good points to support either character being labeled as the protagonist of the story, such as the various tensions that can clearly be seen between them. That being said, Darl is, without a doubt, the best possible choice. He is forced to overcome more obstacles, including alienation from his entire family, than any other character, and is truly a changed person by the end of the novel.

The banking crisis of the late 2000s, often called the Great Recession, is labelled by many economists as the worst financial crisis since the Great Depression. Its effect on the markets around the world can still be felt. Many countries suffered a drop in GDP, small or even negative growth, bankrupting businesses and rise in unemployment. The welfare cost that society had to paid lead to an obvious question: ‘Who’s to blame?’ The fingers are pointed to the United States of America, as it is obvious that this is where the crisis began, but who exactly is responsible? Many people believe that the banks are the only ones that are guilty, but this is just not true. The crisis was really a systematic failure, in which many problems in the

“Since 2007 to mid 2009, global financial markets and systems have been in the grip of the worst financial crisis since the depression era of the late 1920s. Major Banks in the U.S., the U.K. and Europe have collapsed and been bailed out by state aid”. (Valdez and Molyneux, 2010) Identify the main macroeconomic and microeconomic causes that resulted in the above-mentioned crisis and make an assessment of the success or otherwise of the actions taken by the U.K government to resolve the problem.

For this assignment I picked “the role of the Federal Reserve” a mere recital of the economic policies of government all over the world is calculated to cause any serious student of economics to throw up his hands in despair (pg, 74). The Federal Reserve is now in the business of enforcing the United States government’s drug laws, even if that means making a mockery of both state governments’ right to set their drug policies and the Fed’s governing statutes. A Federal Reserve official who played a key role in the government 's response to the 2008 financial crisis says the government should do more to prevent a repeat of that crisis and should consider whether the nation 's biggest banks need to be broken up. Neel Kashkari says he believes the most major banks still continue to pose a "significant, ongoing" economic risk. The next ten years will see an explosion of government debt and an implosion of government’s ability to fulfill its promises. Any economic or investment model based on past performance under previous economic conditions will be worthless just as useless as the Federal Reserve’s models.

In this essay, I will briefly explain what happened during the financial crisis of 2007-09, and also discuss the contribution of the government to the financial crisis.

Our economy is a machine that is ran by humans. A machine can only be as good as the person who makes it. This makes our economy susceptible to human error. A couple years ago the United States faced one of the greatest financial crisis since the Great Depression, which was the Great Recession. The Great Recession was a severe economic downturn that occurred in 2008 following the burst of the housing market. The government tried passing bills to see if anything would help it from becoming another Great Depression. Trying to aid the government was the Federal Reserve. The Federal Reserve went through a couple strategies in order to help the economy recover. The Federal Reserve provided three major strategies to start moving the economy in a better direction. The first strategy was primarily focused on the central bank’s role of the lender of last resort. The second strategy was meant to provide provision of liquidity directly to borrowers and investors in key credit markets. The last strategy was for the Federal Reserve to expand its open market operations to support the credit markets still working, as well as trying to push long term interest rates down. Since time has passed on since the Great Recession it has been a long road. In this essay we will take a time to reflect on these strategies to see how they helped.

Jason Reitman’s 2007 motion picture, “Juno” follows 16-year old Juno McGruff, through the trials and tribulations of teen pregnancy and the exploration of choices and decisions she makes after a one-time encounter with her friend and admirer Paulie Bleecker. The story follows the journey Juno commences in finding what she believes to be the ideal adoptive parents for her unborn child. What Juno finds is Vanessa and Mark Loring’s advertisement in the Penny Saver newspaper and to Juno they appear to be the perfect couple and model parents. Throughout the movie, the audience comes to realize that what appears to be a perfect couple is essentially incorrect as Vanessa and Mark is a couple who have the biggest gender differences of all the couples in the movie.

The outbreak and spread of the financial crisis of 2007-2008 have caused the most of countries into severe economic difficulties and also created an adverse impact on the global economy. The beginning of the financial crisis is defaults in the subprime mortgage market in the USA. Although the global economy seems to recover since 2009, the impacts of the crisis still affect many countries until now. This essay focuses on the background and impacts of financial crisis, and the learning from the movie The Big Short.